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Derbyshire MP Nigel Mills learns more about Rent to Buy

Amber Valley MP, Nigel Mills, recently took a guided tour of a housing scheme designed to support first-time buyers looking to get onto the housing ladder.

Touring the Smalley Manor development off Heanor Road, Smalley – built by award-winning Derbyshire housing developer Peveril Homes – Nigel Mills viewed the newly-built homes being offered under the Rent to Buy scheme by Limehouse Developments.

The scheme offers renters the chance to move into a new-build property for a reduced rent while saving up for a deposit to buy the home after five years.

Nigel Mills MP said: “I was delighted to be invited to see how the rent to buy scheme is supporting first time buyers in Amber Valley and to tour Smalley Manor,”.

During the visit the Derbyshire MP met new Limehouse customer Dylan, a bricklayer who moved into his new home just before Christmas with his fiancée Danielle.

Dylan said: “I already feel I have been here for a lifetime”.

“Before, we had no chance to save up for a home; this is a great way of getting onto the property ladder, I’m really chuffed.”

Expecting their first child in a matter of weeks, Dylan and Danielle are already saving to buy their two-bedroom home after five years. “We’re looking to save as much as we can and have a Help to Buy ISA to help make the purchase at the end of the five years,” Dylan added.

Rent-to-buy is a government-backed scheme which is designed to support people making the move from rented properties, to buying their own home.

Limehouse introduced the first six Rent to Buy homes in late November 2017, with all but one of the homes now rented out.

Marcus Keys, Group Director of Business Growth and Transformation at Limehouse, said: “This new tenure has already proven popular and we have plans to introduce it at other sites in the future.

“We were very pleased to be able to welcome Nigel to our newest development with Peveril.”

James Smith, Director at Peveril Homes, welcomes the new scheme and sees it as a positive step to help those who might ordinarily struggle purchasing a new-build home.

“Limehouse Developments are making new homes more affordable for people by allowing them to save sufficient amounts per-month while renting, in order to put down the required deposit for a new home at the end of the five years”.